Aims:
* Proven consistency over long period of time in all market conditions.
* Building trading capital with very small initial capital.
* Following trading strat and risk management.
* Improved efficiency by reducing time spent on charts and selective trading.
* Build up capital using managed leverage to then spread bet with.
* Build of confidence in my abilities and strategies to then trade my large main account.
* 50% hit rate with 2:1 RR, should prevent blowing the account.
* To see on average how much % I make a month, week and year.
* To see how long it takes me to turn this into 250000. Which would be doubling the account 9 times or 90% with the account doubled every 10%.
Rules:
1. Deposit £500 and $500 into brokerage accounts with high leverage. We are trading this initial capital as if it is £5000, instead of depositing £5000. (I use one broker for BTC and another for FX)
2. Risk up to 1% of capital per trade. Example 1% of 5000 = 50.
3. We will try to compound our risk and reward.
4. Max exposure / risk is 2% a week.
5. Aim to make 4% a month minimum.
6. When we look to make 10% and double. For example 10% of 5000 = 500. Once we hit 5500 we then trade the account like its 10000. In actual capital we will have 1000 and will be risking 100 a trade until we make 10%.
Dec 2021 - 0.771968% %
January 2022 +8.18348 %
Feb 2022 Present - 1.64332 %
Week 1 Feb 1-6th - 1.64332%
Trades taken
XAU Looser ME
AC Looser ME
GJ Looser ME
BTC Looser ME
Lessons learnt: You missed a lovely XAU long earlier on in the week which really affected your mentality and got you in trades that did not meet your strat. The trades you wanted to take appeared later on in the week around Wednesday / Thursday which was what you had planned for. Going against W1, D3, D1, D12 momentum is a terrible idea even if the lower time frames such as H1 and H4 lure you in. In patience was your down fall here, you should have just waited for the clear set ups to emerge which they always do, or just sat on your hands. Overall your risk management and quick reactions where what salvaged the week and your risk management was supreme! Not an awful week, next will be better for sure!
This challenge is more for me than anyone else but feel free to go on this journey with me. Please note, I started this in December and have been doing weekly reviews on my own prior to trading view, however this seems to be the best platform for my reviews and going forward, my first upload today will be Week 1 just to make things easier for me haha.
This is not finical advice and is an just for informational purposes.
* Proven consistency over long period of time in all market conditions.
* Building trading capital with very small initial capital.
* Following trading strat and risk management.
* Improved efficiency by reducing time spent on charts and selective trading.
* Build up capital using managed leverage to then spread bet with.
* Build of confidence in my abilities and strategies to then trade my large main account.
* 50% hit rate with 2:1 RR, should prevent blowing the account.
* To see on average how much % I make a month, week and year.
* To see how long it takes me to turn this into 250000. Which would be doubling the account 9 times or 90% with the account doubled every 10%.
Rules:
1. Deposit £500 and $500 into brokerage accounts with high leverage. We are trading this initial capital as if it is £5000, instead of depositing £5000. (I use one broker for BTC and another for FX)
2. Risk up to 1% of capital per trade. Example 1% of 5000 = 50.
3. We will try to compound our risk and reward.
4. Max exposure / risk is 2% a week.
5. Aim to make 4% a month minimum.
6. When we look to make 10% and double. For example 10% of 5000 = 500. Once we hit 5500 we then trade the account like its 10000. In actual capital we will have 1000 and will be risking 100 a trade until we make 10%.
Dec 2021 - 0.771968% %
January 2022 +8.18348 %
Feb 2022 Present - 1.64332 %
Week 1 Feb 1-6th - 1.64332%
Trades taken
XAU Looser ME
AC Looser ME
GJ Looser ME
BTC Looser ME
Lessons learnt: You missed a lovely XAU long earlier on in the week which really affected your mentality and got you in trades that did not meet your strat. The trades you wanted to take appeared later on in the week around Wednesday / Thursday which was what you had planned for. Going against W1, D3, D1, D12 momentum is a terrible idea even if the lower time frames such as H1 and H4 lure you in. In patience was your down fall here, you should have just waited for the clear set ups to emerge which they always do, or just sat on your hands. Overall your risk management and quick reactions where what salvaged the week and your risk management was supreme! Not an awful week, next will be better for sure!
This challenge is more for me than anyone else but feel free to go on this journey with me. Please note, I started this in December and have been doing weekly reviews on my own prior to trading view, however this seems to be the best platform for my reviews and going forward, my first upload today will be Week 1 just to make things easier for me haha.
This is not finical advice and is an just for informational purposes.